bonds - The African Mirror

Jan

2024

Investing in 2024: What to Expect

AS we enter 2024, the investment landscape is expected to undergo significant changes. Here are some of the top trends that investors should keep an eye on: BRETT SILBERG Last Year’s Biggest Winners: In 2023, the stock market was the place to be for investors. The S&P 500 was up nearly 25%, and the Nasdaq had gained almost 43%. The biggest gainers were the FAANG stocks, which have now been dubbed “The Magnificent Seven” However, it’s important to note that past performance is not indicative of future results. Bonds Are Coming Back in 2024: With interest rates more likely to…

Jan

2023

By The African Mirror

Nigeria’s bonds tumble after Moody’s rating downgrade

BUSINESS

RACHEL SAVAGE and MARC JONES NIGERIA'S government bonds fell heavily after rating agency Moody's downgraded the West African oil producer late on Friday to Caa1 from B3, saying the government's fiscal and debt position was expected to keep deteriorating. Longer-dated bonds were down the most, with the dollar-denominated 2051 Eurobond falling more than 2.8 cents in the dollar to 68.758 cents according to Tradeweb data. Only the Eurobond maturing this year fell less than 1 cent. "That is a significant move because there will be a lot of forced selling," Viktor Szabo, emerging market portfolio manager at Abrdn, told Reuters.…

Apr

2022

By The African Mirror

Ghana to issue $3.24 billion in bonds in second quarter, central bank says

BUSINESS

GHANA plans to issue 24 billion cedi ($3.24 billion) in bonds in second quarter according to a government debt issuance calendar published by the central bank. It said 20 billion cedi would be used to roll over maturing bonds, while the remaining 4.5 billion is fresh issuance to meet the government's financing requirements. Ghana's economy is currently facing a raft of financial woes including rampant inflation, a depreciating currency and a heavy debt burden. Its credit ratings have recently been downgraded for reasons including concerns for the country's access to international capital markets. The calendar showed that the government plans…

Dec

2020

By The African Mirror

Supply squeeze won’t ease on global stocks and bonds in 2021

BUSINESS

SUJATA RAO AN unrelenting squeeze on the supply of global shares and sovereign bonds shows little sign of easing next year, with companies and central banks predicted to be big buyers of these securities in direct competition with investors. The supply mismatch could help to sustain the decade-long bull run in global equities and also keep bond yields at very low levels. A string of high-profile intial public offerings, as well as emergency secondary listings, this year raised almost $1 trillion in new equity, Dealogic data shows. Yet this flood of new equity issues did not end the supply squeeze…